5 Signs You Bought the Wrong House (And What to Do About It!)

Buying a new home is a major investment – and like any investment, it comes with the potential for both benefits and risks.

When you first bought your home, you fell in love with everything about it. You couldn’t wait to move in and start your new life in your dream home – but soon, you realized your dream was more of a nightmare.

You’re starting to experience buyer’s remorse, maintenance headaches, and other signs you bought the wrong house.

You’re desperate to fix the issue as soon as possible – and to listen to your gut when it’s telling you you’ve made a mistake.

This post is here to help you do both, so read on to know the signs and what to do if you’ve bought the wrong home.

Signs You Bought the Wrong House

There are all kinds of reasons why you bought the wrong house.

Maybe you didn’t really know what to look for in a house, perhaps you didn’t have a strong grasp on the realities of the market, or maybe you went at it without the help of a real estate agent.

In some cases, you may have been outright taken advantage of.

Read on for more signs you bought the wrong house.

1. You Didn’t Do Enough Shopping

Maybe you just didn’t do enough research and browsing when you were looking for a new home.

In some cases, your timeline could have caused you to rush the decision. Maybe you were trying to get out of a home you shared with your ex or had to move quickly because of an amazing job opportunity.

You went with the first house you saw, or perhaps you feel like you didn’t really know the options available to you.

No matter the cause, you’re regretting not doing the proper homework now.

2. You Blew Your Budget

Only 2 out of 5 millennials are able to make a down payment on their home on their own.

This means that you’re highly likely to blow your budget – or bite off way more than you can chew when it comes to lending – when shopping for a home.

Going over budget is the most important sign you bought the wrong house. And the one you need to pay most attention to – it can destroy your entire financial future.

You got distracted by the incredible location, amenities, or maybe the walk-in closet. You’re definitely paying for it now. And if you’re honest, you’re not sure how much longer you’re going to be able to make those payments.

3. The Location Is a Disaster

Another reason why people say, “I bought the wrong house” is because of the location.

Distracted by the beautiful pool or front garden, you ignored the fact that the home’s location lengthened your morning commute by an hour on a good day.

You’re by a busy intersection that keeps you awake all night. Maybe you have a train or trolley going by, or perhaps you’re even next to a bar with loud, obnoxious patrons.

Maybe getting in and out of your driveway is an event every time, or perhaps you didn’t realize how much of a threat environmental disasters and climate risks pose to your property.

4. You’ve Noticed Structural Issues

Have you noticed things like tilting floors, a leaky roof, cracks between your windows and walls, and other major structural issues?

These details may seem manageable at first, but when you look at them altogether – and likely find even more issues – you’ve got a major problem on your hands.

You didn’t buy a new home to spend the rest of your life – and most of your savings – fixing it up.

Major structural issues are a clear sign you’ve made a mistake.

5. Insane Neighbors

Bad neighbors can cause huge problems, and make you feel like a prisoner in your own home.

Nosy neighbors that constantly ask you personal questions or ones that ring your doorbell and drop by unannounced all the time are a huge nuisance. Often, they can be tough to get rid of, and you might feel like you’d rather grin and bear it than have to have an awkward conversation.

Loud parties, rude neighbors, or just people that seem disrespectful of your space are all signs this might not be the right house for you.

You Bought the Wrong House, Now What?

So, you’ve recognized quite a few of these signs you bought the wrong house in your own situation.

The good news is that you have more options than you might think. If you’re truly desperate, you can find a cash buyer for your home that will take it off your hands ASAP – but be prepared to take a loss.

You can also look into restructuring your mortgage payments or even transferring your loan to another lender if possible.

If there are structural issues or if you felt you were intentionally misled by the seller, you can file a lawsuit against a contractor, the previous homeowner, or the company that conducted your home inspection.

You can even rent it out to other people and rent a home for yourself that you like more while you wait for the right time to sell.

Turn a Dud into a Dream

We know that recognizing the signs you bought the wrong house can be frightening and frustrating.

But if you truly can’t sell or find another solution, you need to do your best to make your home your own.

Hire an interior designer or decorator, and get design trend inspiration from newspapers, blogs, and television shows.

Keep checking back in with us for more interior and exterior design and renovation advice. We’ll also keep you posted on what’s going on in the real estate market.

That way, you’ll know right away when it’s time to unload your home on the market.